Withdraw an LRS remittance back to the investor

This flow is used for fund withdrawals. When an end user requests to withdraw their overseas investments, you, as the Indian broker, initiate the withdrawal by providing the user's bank account details, which are treated as the beneficiary account. The withdrawal flow involves five steps:

Create a Beneficiary — register the user's bank account details as the beneficiary account.
Create a Document — upload the user's consent to withdraw the money.
Get a Payout Quote (optional) — show the investor an estimate of the INR they will receive.
Create a Payout — initiate the transfer to the beneficiary, referencing the beneficiary and the uploaded documents.
Payout Success — once the bank has processed the payout, its status changes to success and the finalized destination_amount, mid_market_rate, taxes, and utr are made available.

Create a Beneficiary (V2)

Creates a beneficiary with structured nested objects for beneficiary details, address, and bank account information.

Note:
Create the LRS withdrawal beneficiary with category set to "payout" and bank_account.currency set to "INR".
Pass the IFSC code in the local_routing_number field. You do not need to pass a swift_code.
Ensure you include the tax_identification_number (PAN) of the beneficiary inside the notes object. This is an example of a notes field your account may require. See the notes description in Create a beneficiary.
Store the id received in the response — it is passed as beneficiary_id in the Create a Payout API request.

API Endpoint

POST https://api.glomopay.com/api/v2/beneficiaries

Request

curl -i -X POST \
  https://api.glomopay.com/api/v2/beneficiaries \
  -H 'Authorization: Bearer <YOUR_JWT_HERE>' \
  -H 'Content-Type: application/json' \
  -d '{
    "category": "payout",
    "beneficiary": {
      "name": "John Doe",
      "type": "individual",
      "address": {
        "address_line1": "202 Swarna Residency",
        "city": "Bengaluru",
        "state": "Karnataka",
        "country_code": "IND",
        "postal_code": "560048"
      }
    },
    "bank_account": {
      "account_number": "XXXXXXXXXX0291",
      "name": "HDFC Bank",
      "local_routing_number": "HDFC0000123",
      "currency": "INR",
      "address": {
        "address_line1": "HDFC Bank House, Senapati Bapat Marg",
        "city": "Mumbai",
        "state": "Maharashtra",
        "country_code": "IND",
        "postal_code": "400013"
      }
    },
    "notes": {
      "tax_identification_number": "EFEXXXX68F"
    }
  }'

Response

{
  "id": "bene_5JU9yv0lGSUP",
  "name": "John Doe",
  "type": "individual",
  "category": "payout",
  "status": "pending",
  "email": null,
  "phone": null,
  "nickname": null,
  "upi_account": null,
  "created_at": "2025-01-15T10:00:00Z",
  "updated_at": "2025-01-15T10:00:00Z",
  "address": {
    "address_line1": "202 Swarna Residency",
    "city": "Bengaluru",
    "state": "Karnataka",
    "country_code": "IND",
    "postal_code": "560048"
  },
  "bank_account": {
    "account_number": "XXXXXXXXXX0291",
    "name": "HDFC Bank",
    "local_routing_number": "HDFC0000123",
    "currency": "INR",
    "address": {
      "address_line1": "HDFC Bank House, Senapati Bapat Marg",
      "city": "Mumbai",
      "state": "Maharashtra",
      "country_code": "IND",
      "postal_code": "400013"
    }
  },
  "notes": {
    "tax_identification_number": "EFEXXXX68F"
  }
}

Create a Document

Upload the user's consent to withdraw the money by calling this API. The consent is a withdrawal request letter on your company letterhead confirming the investor's withdrawal request — download the sample template here: Sample Withdrawal Request Letter. The file is sent as binary in a multipart/form-data request.

Note: Store the id received in the response — it is passed in the documents array of the Create a Payout API request.

API Endpoint

POST https://api.glomopay.com/api/v1/document

Request

curl -i -X POST \
  https://api.glomopay.com/api/v1/document \
  -H 'Authorization: Bearer <YOUR_JWT_HERE>' \
  -F 'document_name=Letterhead' \
  -F 'file=@/path/to/Sample_Withdrawal_Request_Letter.pdf'

Response

{
    "id": "doc_nYUqLpuYQ0M8",
    "document_name": "Letterhead",
    "file_name": "Letterhead_BC8tFdE.pdf",
    "preview_url": "https://glomopay-service-staging-documents.s3.ap-south-1.amazonaws.com/12345_Letterhead",
    "status": "uploaded",
    "created_at": "2021-06-01T12:00:00Z",
    "updated_at": "2021-06-01T12:00:00Z"
}

Get a Payout Quote

This step is optional. Use it to show the user about how much INR they will receive before you create the payout.

The quote is an estimate only. It does not lock the rate. The bank sets the actual amount when it processes the batch.

You cannot attach this quote to a payout.

API Endpoint

POST https://api.glomopay.com/api/v1/lrs/quotes

Request

curl -i -X POST \
  https://api.glomopay.com/api/v1/lrs/quotes \
  -H 'Authorization: Bearer <YOUR_JWT_HERE>' \
  -H 'Content-Type: application/json' \
  -d '{
    "resource": "payout",
    "source_amount": 1000000,
    "source_currency": "USD",
    "target_currency": "INR"
  }'

Response

The API returns 201.

{
  "id": "quote_6ab51084HiJPg",
  "from": {
    "amount": 1000000,
    "currency": "USD"
  },
  "to": {
    "amount": 93142106,
    "currency": "INR"
  },
  "fx_rate": "94.13",
  "total_tax": 46594,
  "expires_at": "2026-09-24T12:29:00.819Z",
  "created_at": "2026-09-24T11:59:00.822Z"
}

to.amount is the estimated INR after fees, conversion and tax, in paisa.
total_tax is the estimated GST, in paisa.
fx_rate is the bank's USD to INR buy rate when the quote was made.

Note: This quote is an estimate.

Errors

400 — Validation failed: Bank code is not supported for payout quotes. You sent bank_code.
400 — Validation failed: payout quotes are only supported from USD to INR. The currency pair is not USD to INR.
422 — No active exchange rate found. No rate is available right now.

Create a Payout

Initiate the withdrawal by creating a payout to the beneficiary, referencing the beneficiary_id and the uploaded document id.

Note:
For the LRS withdrawal flow, source_currency is "USD", destination_currency is "INR", and the payment_rail is "neft".
All amounts are expressed in the smallest unit of the currency (e.g., cents for USD, paisa for INR). For example, 100000 represents $1,000.00 in USD.
request_id is a client-provided unique identifier for the payout. A payout with a duplicate request_id is rejected with a 409 error.

API Endpoint

POST https://api.glomopay.com/api/v1/payouts

Request

curl -i -X POST \
  https://api.glomopay.com/api/v1/payouts \
  -H 'Authorization: Bearer <YOUR_JWT_HERE>' \
  -H 'Content-Type: application/json' \
  -d '{
    "purpose_code": "P0001",
    "beneficiary_id": "bene_a1b2c3d4e5",
    "source_currency": "USD",
    "destination_currency": "INR",
    "source_amount": 10000,
    "payment_rail": "neft",
    "invoice_number": "INV-2026-001",
    "request_id": "req-7f3a9c20",
    "documents": ["doc_11aa22bb33"],
    "notes": {
      "internal_ref": "batch-42"
    }
  }'

Response

{
    "id": "payout_6a7c51772CX2A",
    "beneficiary_id": "bene_6a7061db3UDRq",
    "destination_amount": null,
    "destination_currency": "INR",
    "source_currency": "USD",
    "source_amount": 10000,
    "purpose_code": "P0001",
    "status": "in_progress",
    "fees": {
        "txn_fee": {
            "currency": "USD",
            "amount": 0
        },
        "fx_fee": {
            "currency": "USD",
            "amount": 0
        }
    },
    "mid_market_rate": {
        "currency": null,
        "rate": null
    },
    "documents": [],
    "utr": null,
    "created_at": "2026-08-11T05:27:16Z",
    "updated_at": "2026-08-11T05:27:17Z",
    "receipt_ids": [],
    "fee_collection_mode": "deferred",
    "request_id": "2026-08-11T05:27:10.995Z",
    "payment_rail": "neft",
    "invoice_number": null,
    "notes": null,
    "error_code": null,
    "error_description": null,
    "customer_error_description": null,
    "quote_id": null,
    "taxes": [],
    "estimated_credit_date": "2026-08-13"
}

Payout Success

Once the bank has processed the payout, its status changes to success.

Note: The values of destination_amount, mid_market_rate, taxes, and utr are only finalized once the payout status is success. Once the payout succeeds, these values are delivered via the payout webhook, and can also be fetched by polling Retrieve a Payout.

Response

{
  "id": "payout_6a7c51772CX2A",
  "beneficiary_id": "bene_6a7061db3UDRq",
  "destination_amount": 946700,
  "destination_currency": "INR",
  "source_currency": "USD",
  "source_amount": 10000,
  "purpose_code": "P0001",
  "status": "success",
  "fees": {
    "txn_fee": {
      "currency": "USD",
      "amount": 0
    },
    "fx_fee": {
      "currency": "USD",
      "amount": 0
    }
  },
  "mid_market_rate": {
    "currency": "INR",
    "rate": 96.67
  },
  "documents": [],
  "utr": "AXISN1234567890",
  "created_at": "2026-08-12T10:56:55Z",
  "updated_at": "2026-08-12T10:56:56Z",
  "receipt_ids": [],
  "fee_collection_mode": "immediate",
  "request_id": "Glomo6",
  "payment_rail": "neft",
  "invoice_number": null,
  "notes": null,
  "error_code": null,
  "error_description": null,
  "customer_error_description": null,
  "quote_id": null,
  "taxes": [
    {
      "name": "GST",
      "amount": 20000,
      "currency": "INR",
      "bps": 1800
    }
  ],
  "estimated_credit_date": "2026-08-17"
}

Withdraw an LRS remittance back to the investor

Create a Beneficiary (V2)

API Endpoint

Request

Response

Create a Document

API Endpoint

Request

Response

Get a Payout Quote

API Endpoint

Request

Response

Errors

Create a Payout

API Endpoint

Request

Response

Payout Success

Response

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